Trimming Kinross Gold’s FVE After Updating Our Production Forecasts for Latest Projects
On Sept. 18, Kinross Gold announced its decision to proceed with Tasiast’s Phase Two expansion and Round Mountain’s Phase W expansion. While the development projects should help add important ounces to Kinross in the long term, the company continues to face declining production at a few other mines. Given its recent debt raise in July, we don’t think the company will need additional financing to pay for the expansion projects.We forecast production to decline from about 2.6 million ounces in 20...
Kinross Gold is engaged in the mining and processing of gold and, as a by-product, silver ore and the exploration for, and the acquisition of, gold bearing properties in the Americas, the Russian Federation, West Africa and worldwide. As of Dec 31 2013, Co.'s proven mineral reserves for gold and silver were 1,122 ounces and 1,179 ounces respectively.7,883 7,883 7,883
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